Car Insurance Costs Less for Women
If you happen to belong to the fairer sex, chances are that car insurance is probably going to be a little more affordable for you than it might be for your male counterparts. Despite all those thousands of jokes about women drivers (and you probably might have heard plenty of them yourself) statistics actually show that women are better and safer drivers than men and therefore the car insurance companies offer lower premiums on car insurance policies to women than men, even if they are driving the same make and model of car.
Of course not all women are excellent drivers and not all men are incapable of driving as carefully or as safely as their female counterparts. There are indeed ladies who love to speed and take risks like texting while driving and there are plenty of men who always stick to the posted speed limits and would never talk over a cellphone while they drive. However, no car insurance company can come out and access the driving skills of each individual –male or female – that they sell a policy to so they have to go with those averages and national statistics.
The logic of women being safer drivers than men is based on actual, relevant statistical data. Because women drivers pose a lower risk than men, at least in driving scenarios, car insurance companies find it less expensive to insure women.
Women have a 50 percent lower likelihood of having been arrested or cited for a driving while intoxicated (DWI) or driving under the influence (DUI) than men. For this reason, insurance companies find it a lot easier to charge women less, because they present a lesser risk of accidents caused by the abuse of substances. A 50 percent less likelihood is a very significant margin and warrants a lot less risk.
In most cases, women typically own cars that are cheaper than those that men own. A cheaper car is easier to repair or replace in the event of an accident. This rationally makes the insurance rates lower than those of men.
Women are also less likely to have a traffic violation on their driving records than men do. This only goes to further support that women are safer; more careful drivers than men are, further warranting a lower car insurance premium.
Recently in the United Kingdom, it has been found unequal and discriminatory for women's car insurance rates to be lower than those for men. It was previously a common practice to base insurance premiums on statistical data about life expectancy and car accident claims amongst others. This means that there is the likelihood that women's premiums will go up to match those of men, and statistical data will no longer be utilized as a determining factor for car insurance rates.